Multi-Family, Corona Del Mar - Leased , Long Term

$10,500,000

Luxury resort rental units in the heart of Corona Del Mar, CA - steps from the beach! These properties can be purchased, leased yearly or leased monthly. The owners are advertising these properties for sale or lease. The advertised market monthly rates will gross $440,000 annually if fully occupied. NOI $340,000

Last year the properties were managed by the listing agents. They generated $ 588,000 on gross income on a VBRO rental contract. Expect $100,000 in annual expenses as a monthly VBRO.